The recent downturn in Bitcoin, Ethereum, and Solana prices, combined with large ETF outflows and widespread liquidations, signals growing concerns about market stability and possible further declines.
Bitcoin dropped to around $104,500 on October 17 following a four-day losing streak, nearing its October 11 crash low. Ethereum and Solana also saw declines. The crypto market experienced $1.189 billion in liquidations, with $935 million from long positions. U.S. BTC and ETH ETFs had significant outflows, including a $536 million Bitcoin outflow on October 1 and a $428 million Ethereum outflow on October 13. Analysts caution that a further retracement could occur if Bitcoin falls below its 365-day moving average of $99,900.